Hi P:
Sad news!
Should be reported to Agriculture, Fisheries and Conservation Dept: might just lead to action. Also try police, perhaps.
I've seen incense trees with chunks chopped out, to encourage sap to flow.
Photo here: https://www.hkoutdoors.com/photos-martin-williams/hacked-incense-tree
Not seen or heard of trees being chopped down for removal, for whatever reason. Hope this isn't some new trend, following thefts of Buddhist pines, and the damage to incense trees (both for profits made in mainland China).
Martin